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Updated: U.S. Weekly Jobless Claims Fall To 282K

By Kitco News
Thursday March 26, 2015 8:30 AM

Editor's Note: The article was updated to include comments from TD Securities.

(Kitco News) - First-time weekly jobless claims in the U.S. fell by 9,000 to a seasonally adjusted 282,000 during the week to Saturday, the Labor Department said Thursday.

The data was well below economists' expectations, which according to consensus forecasts were for claims to remain at last week's unrevised level of 291,000.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it smoothens out week-to-week volatility – was down by 7,750 claims to 297,00.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, dropped by 6,000 to a seasonally adjusted 2.416 million during the week ending March 14.

Cheng Chen, U.S. strategist at TD Securities, said the underlying tone of the report shows that the labor market continues to improve. He added continuing claims numbers are particularly encouraging as it shows previous laid off workers are finding new employment.

“And even though this report will have no bearing on next week’s payrolls report, the constructive trend in claims in recent weeks suggests that the positive labor market trend is continuing,” he said.



By Neils Christensen of Kitco News nchristensen@kitco.com



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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